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Committee clears SFUSD to issue up to $531 million in school bonds
Summary
The Budget and Finance Committee recommended that the full Board authorize the San Francisco Unified School District to issue and sell up to $531 million in general‑obligation bonds over multiple series; budget analyst estimated the full tax impact at $105.45/year for a $500,000 residence when fully issued.
The Budget and Finance Committee on Tuesday recommended that the full Board allow the San Francisco Unified School District to issue and sell up to $531 million in general‑obligation bonds over several series to fund school modernization and repairs.
Supervisor Kim introduced the resolution and Deputy Superintendent Myung Lee described the district’s plan to use the voter‑approved authorization to complete remaining school rehabilitation and modernization projects. The resolution would allow the district to issue bonds on its own behalf, as permitted under the California Education Code; the district plans to issue the authorization in multiple series with an initial tranche smaller than the full authorization.
Budget analyst Severn Campbell told the committee that the full $531 million, if fully sold, would add about $105.45 per year in property taxes for a single‑family residence assessed at $500,000, though the first series would have a smaller immediate tax impact. Public comment was not offered for this item. The committee voted to send the resolution forward with a recommendation for approval.
